|Bid||0.00 x 3200|
|Ask||0.00 x 28000|
|Day's range||9.67 - 9.85|
|52-week range||7.41 - 12.15|
|Beta (3Y monthly)||0.91|
|PE ratio (TTM)||12.68|
|Earnings date||24 Jul 2019|
|Forward dividend & yield||0.60 (5.74%)|
|1y target est||10.36|
Ford (F) to restructure operations globally to enhance profitability, speed up product development and announce job cuts. Fiat Chrysler (FCAU) to recall 208,000 vehicles.
In a bid to improve its industrial portfolio and grow in Australasia, Genuine Parts (GPC) to acquire the rest of 65% stake in Inenco.
The United States' second largest carmaker has been moving steadily on the development of full-service autonomous driving vans which it could potentially license out to companies ranging from Domino's Pizza to Lyft or Target. It launched a self-driving pilot with delivery partners including Domino's in Miami last year, and it said it was working on the best way to integrate Agility's two-legged robot, Digit, into future vans. Digit is capable of lifting packages that weigh up to 40 pounds, can walk up and down stairs and through uneven terrain, while maintaining its balance after being bumped, Ford said http://bit.ly/2Jy47T5.
Citigroup thinks U.S. auto makers can get higher valuation multiples by disclosing truck profitability.
Ford is working on a way to resolve what self-driving researchers refer to as “the last 50-foot problem.” If an autonomous delivery vehicle arrives at your house, without any humans aboard, who’s going to carry the package, grocery bags or piping-hot pizza to your doorstep? In Ford’s case, the solution is Digit, an android with two stork-like legs, arms capable of carrying a 40-pound load and a camera-encrusted torso topped by a puck-shaped laser-radar sensor. Just ask Amazon, which spent $27 billion on delivery costs last year.
Auto makers are laying off employees at the fastest pace since the financial crisis, according to outplacement services company Challenger, Gray & Christmas Inc., as the industry struggles with changing consumer demand and new technology-based competition.
Although the comments are unusually strong, the source of them is no surprise: Toyota President Akio Toyoda is also chairman of JAMA, the influential trade group. “We are dismayed to hear a message suggesting that our long-time contributions of investment and employment in the U.S. are not welcomed,” Toyoda said in a statement Tuesday. The unusually sharp-worded statements reflect rising concern on the part of Japan’s all-important auto sector ahead of Trump’s state visit later this week.
Ford Motor Co. plans to eliminate more salaried jobs worldwide as part of its redesign, according to an email sent to employees that was published by Automotive News. Notifications will be sent to North American workers on Tuesday, while restructuring work continues in Europe, China, South America and other international markets, Ford’s Chief Executive Jim Hackett said in the email on Monday. The move will reduce the company’s management structure by close to 20% as Ford had planned, said the email.
China is also attracting much investment, with companies keen to increase their share of the world's largest car market and keep up with the country's push toward electric vehicles. Following are summaries of investments and restructuring efforts made by major automakers in the United States and China since 2017. Toyota Motor Corp has pledged to invest almost $13 billion in the United States between 2017 and 2021 to boost manufacturing capacity and jobs.
—after news that large U.S. tech companies have restricted their sales to Huawei. The tech companies are complying with a Commerce Department ban on selling proprietary software and equipment to the Chinese smartphone maker. Google reportedly suspended some business with Huawei, same was the case with U.S. chip makers like Intel.
Ford revealed details of its long-awaited restructuring plan Monday as it prepared for a future of electric and autonomous vehicles by parting ways with 7,000 white-collar workers worldwide, about 10% of its global salaried workforce. In the U.S. about 2,300 jobs will be cut through buyouts and layoffs, Ford said.
Trump’s 2017 tax law, the Tax Cuts and Jobs Act (TCJA), was touted as a way to reduce the corporate tax rate and help American businesses thrive.
It is effectively a recession in the U.S. automotive sector, and Ford is the latest company to respond, with plans to reduce its salaried staff by 7,000 people, or about 10%.
Why Trump Bears Responsibility for US Auto Industry Job CutsFord to cut jobsOn May 20, Ford Motor Company (F) joined the other automakers that have cut their salaried workforces in the United States to save on costs in the last couple of years.This
A Ford Mustang at the London Motor Show last week. Photograph: Velar Grant/Zuma Wire/Rex/Shutterstock Ford is to cut at least 7,000 jobs, including about 550 in the UK, as it presses ahead with plans to reduce costs in Europe and the US. The US carmaker said it planned to cut 10% of its global workforce by the end of August, after announcing plans to shrink its European operations this year. The cuts are expected to save Ford $600m (£471m) a year, helping it improve its profit margins, as carmakers manage weak global demand and ready themselves for a period of upheaval caused by a shift to electric vehicles. Ford did not say how many jobs would go in the UK but the company is expected to shed about 550 employees spread across its sites in Dagenham, Bridgend and Halewood. In a memo to staff on Monday, the chief executive, Jim Hackett, said the restructuring plan would start on Tuesday, with the majority of cuts being finished by 24 May. “To succeed in our competitive industry, and position Ford to win in a fast-changing future, we must reduce bureaucracy, empower managers, speed decision-making and focus on the most valuable work, and cost cuts,” he wrote. Ford first announced widespread cuts across its European operations in January but did not give further details. It is hacking back its European operations in an attempt to increase profit margins, including shutting down loss-making vehicle lines. The US carmaker is to abandon the multivan market – of vehicles with more than five seats – stop manufacturing automatic transmissions in Bordeaux from August, review its operations in Russia, and combine the headquarters of Ford UK and Ford Credit at a site in Dunton, Essex. Germany will bear the brunt of the company’s European retrenchment, with about 5,000 jobs to be lost when temporary staff are included. Ford did not blame Brexit for its cost-cutting plans but has said a no-deal scenario could make matters worse. It said leaving the EU without a deal would result in costs of $500m to $1bn during 2019 alone, adding to a series of stark warnings from major car firms over potential disruption to British manufacturing.